Add 1 cup of water to the Instant Pot insert. Place a trivet and place the beets on the trivet. Close the Instant Pot lid and pressure cook for 15 minutes. Allow natural pressure release.
Open the Instant Pot. Take out the beets and allow them to cool down so they are easy to handle. Peel the beets, trim the top and grate.
Whisk the yogurt to make it smooth. Add grated beets salt, chaat masala, and black pepper.
Heat oil in a small tadka pan. Add mustard seeds, once they start to pop, turn the heat off. Add cumin seeds and allow them to sizzle for 20 seconds, Add green chilies and curry leaves.
Pour the tempering over the beets. Mix well. Garnish with cilantro.
You can enjoy the Koshimbir right away or chill in the refrigerator until ready to serve. The longer you keep it in the fridge, it will become more vibrant pink. Beet Koshimbir stays good for upto 2 days refrigerated.